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FDR Explains the New Deal

February 20, 2014

by ashbradmin

FDR-300x200_radio-mikeTwo months after assuming office, Franklin Roosevelt delivered a radio address—one of his “fireside chats”–on measures he had so far taken to stabilize the nation’s economy. He recalled the national emergency he faced on entering office: “The country was dying by inches. It was dying because trade and commerce had declined to dangerously low levels; prices for basic commodities were such as to destroy the value of the assets of national institutions such as banks, savings banks, insurance companies, and others.” Under these circumstances, he asserted, strong actions had to be taken without long deliberation over economic principles: “We were faced by a condition and not a theory,” he said. Roosevelt named the measures taken to avert further foreclosures and bankruptcies and to put people back to work, saying that Congress had fully supported them, realizing “that the methods of normal times had to be replaced in the emergency by measures which were suited to the serious and pressing requirements of the moment. There was no actual surrender of power . . . . The only thing that has been happening has been to designate the President as the agency to carry out certain of the purposes of the Congress.” This fireside chat on the scope and purposes of the New Deal well illustrates Roosevelt’s skill in reassuring the many still suffering the effects of the Depression while quelling the objections of those who were more concerned about his assumption of new executive authority.